A trusted source of Asia-Pacific commercial aviation news and analysis
News
Garuda Indonesia on the brink of closure?
A court reprieve for Garuda Indonesia has failed to quell media speculation the Indonesian government is preparing to close the financially crippled flag carrier with state-owned air charter company, Pelita Air Service. Read More » Recent media reports have cited government plans to convert Pelita into a full service carrier that can replace Garuda on domestic services. Over the weekend, The Jakarta Globe cited Kartiko Wirjoatmodjo, a deputy for the minister for state owned enterprises, saying the government was prepared to liquidate Garuda if debt restructuring negotiations with lenders and aircraft lessors were unsuccessful. “If we meet a dead-end, we will close [Garuda] down because injecting more state money is impossible given the company’s massive debt loads,” Karitiko was quoted as telling Antara News. The official also raised doubts Garuda could operate long-haul flights if its financial position stabilised. Garuda’s debt is about $US4.9 billion and government officials have expressed concern about issues such as high aircraft leasing costs. The flag carrier received a reprieve last week when an Indonesian court dismissed a case in which creditor, My Indo Airlines, was attempting to force a restructure. A Garuda spokesman said after the court ruling it would continue to focus its efforts on restructuring as it endeavoured to ensure passenger and cargo operations ran normally. The company said in a stock exchange statement posted on October 18 it had received no official information about recovery options being canvassed by the media. It contended the focus of Garuda’s recovery strategy was improving the company’s financial performance and looking at its long-term business model.
Response(s). Share your ideas.
Jorge Tormes says:
November 14th 2024 09:34pm
Sahmra Stevenson says:
November 12th 2024 09:54pm
Jeffrey says:
November 11th 2024 06:28pm
Wayne LeCoy says:
October 28th 2024 06:00pm
NELLY LEWIS says:
October 28th 2024 03:51pm
Kathi Rawls says:
October 26th 2024 09:46pm
Ashlee Davies says:
October 12th 2024 10:05pm
Natalia Wilson says:
October 7th 2024 09:38pm
Anthony Falcone says:
October 2nd 2024 01:45pm
Michael Deam says:
September 27th 2024 09:12pm
Lee Patton says:
September 14th 2024 12:14am
Heather Hendrix says:
August 18th 2024 01:02am
David Gerard says:
August 11th 2024 12:54am
Michelle Martz says:
July 26th 2024 11:50pm
Diane Arthur says:
July 23rd 2024 10:18pm
Edward Hubbard says:
July 14th 2024 11:31pm
Jessica Connor says:
July 9th 2024 12:35am
Brian Thompson says:
July 2nd 2024 11:46pm
Nicole Dolman says:
June 23rd 2024 01:06am
Vernon Jesse says:
June 18th 2024 01:53am
John Case says:
June 11th 2024 01:25am
David Blocker says:
June 2nd 2024 11:08pm
Rayment Basham says:
May 30th 2024 12:27am
Hether Cahill says:
May 26th 2024 10:24pm
Ronald Weiss says:
May 21st 2024 08:35pm
John Conniff says:
May 15th 2024 02:05am
Scott Foster says:
May 12th 2024 12:31am
Diane Wayne says:
May 8th 2024 10:49pm
Steven David says:
May 4th 2024 10:20pm
Evelyn Suero says:
April 28th 2024 10:28pm
Bruce Johnson says:
April 19th 2024 07:35pm
Peter Moseley says:
April 15th 2024 08:58pm
John Kiritsis says:
April 12th 2024 10:02pm
Joseph Murray says:
April 4th 2024 09:55pm
Arun Gupta says:
March 31st 2024 04:10pm
Peggy Carter says:
March 29th 2024 08:14am
James Grove says:
March 20th 2024 09:12pm
Jason Herman says:
March 16th 2024 08:30pm
Richard Morin says:
March 12th 2024 07:28pm
Patricia Nelson says:
March 5th 2024 10:47pm
Lila Bradley says:
March 3rd 2024 09:55pm
Erik Cooper says:
March 1st 2024 04:01pm
Carol Greene says:
February 28th 2024 03:59pm
Stephanie Wilson says:
February 23rd 2024 10:03pm
Joseph Welch says:
February 21st 2024 06:52pm
Bradley Thomson says:
February 18th 2024 02:22pm
Frank Jackson says:
February 9th 2024 03:45pm
Timothy Petri says:
February 7th 2024 12:22pm
Nicholas Ortiz says:
January 29th 2024 09:09am
Steven Hoort says:
January 27th 2024 01:45pm
James Wallack says:
January 26th 2024 09:53am
David Reier says:
January 24th 2024 12:00am
Nicole Diller says:
January 19th 2024 11:30pm
Melissa Conner says:
January 18th 2024 01:52pm
Lynne Riley says:
January 15th 2024 08:35pm
Lindsey Dupius says:
January 10th 2024 11:38pm
Mark Blenden says:
January 6th 2024 08:23pm
Richard Harrell says:
January 5th 2024 07:07pm
Michael Hayes says:
November 18th 2023 01:56pm
Lomer Fresh says:
November 7th 2023 12:03pm
Leo Antonio says:
October 8th 2023 08:33am
Ishan Enoch says:
August 12th 2023 10:03pm
Jerry Brahma says:
July 21st 2023 12:17pm
Jerry Brahma says:
July 21st 2023 12:17pm
Jerry Brahma says:
July 21st 2023 12:16pm
Maria Clarks says:
July 6th 2023 03:03pm
Maria Clarks says:
July 6th 2023 02:32pm
Sarah Ruffi says:
June 15th 2023 11:05am
Andrew Wilson says:
April 29th 2023 09:31am
JASMINE TOM says:
March 26th 2023 01:30am
Juan says:
March 19th 2023 11:20am
Martins Thompson says:
March 8th 2023 01:28am
Arnold Godfrey says:
March 2nd 2023 11:39pm
Davis Carter says:
February 7th 2023 08:17pm
Darwin Gabe says:
December 10th 2022 07:59pm
Rodriquez Jordan says:
November 26th 2022 02:13pm
Sarah Addison says:
November 4th 2022 07:57pm
Steve Cole says:
May 21st 2022 01:35pm
Maxwell Aarons says:
April 25th 2022 02:44pm
Laura James says:
April 11th 2022 09:30pm
Christopher Lucas says:
March 29th 2022 03:51am
Joan Christopher says:
January 24th 2022 10:14am
HACK VANISH- WORLD BEST HACKER says:
January 24th 2022 10:09am
McGuire Walker says:
November 27th 2021 10:46pm
Alex Williamson says:
November 13th 2021 01:52am
Dawson Holman says:
November 10th 2021 02:09am
Carla Houston says:
November 7th 2021 12:32am
Betty Kari says:
October 25th 2021 04:58pm
Lydia Carol says:
October 25th 2021 04:57pm
SPEAK YOUR MIND
Your email address will not be published. All fields are required.
© Orient Aviation Media Group. All Rights Reserved.
Meggan Nicholas says:
November 18th 2024 11:28am